The Baltimore Opera went bankrupt last week and its assets are being auctioned off to pay off debts. This is not something that will be recovered, and one of America’s most historic and, well, real cities will have one more empty theatre and has suffered another serious body blow to its reeling downtown core. Rumour has it that the venerable Baltimore Sun is in trouble and perhaps one of the great American newspaper cities will soon share the fate of newspaperless Denver and online-only Seattle.
How could these bitter blows be allowed to happen in the richest country in the world? Hundreds of millions of dollars owned by the citizens of this country, who would like to read the paper and occasionally go to the theatre, are being given away to the worst corporate executives imaginable who display no shame at the exposure of their unimaginable greed in accepting that money. Was that the former president of Harvard we saw on tv claiming that contracts like this could not be broken? Is that what they teach in the Business Administration programmes at universities that charge incredible sums for students to suck up such knowledge? Maybe it’s time to send those kids to universities that teach the economics of civic pride, corporate honesty, the necessity of spending money to keep cities livable, and the fair distribution of that money.